All owner-operators and trucking companies must carry commercial trucking insurance with adequate liability coverage. This insurance helps protect the owner-operator or motor carrier from liability lawsuits if the truck driver causes an accident resulting in third-party injuries or property damage.
Why Do Truck Drivers Need Commercial Truck Insurance?
Federal law requires motor carriers and owner-operators to purchase public liability insurance for their DOT-regulated commercial motor vehicles. However, regardless of DOT regulations, most states require all tractor trailers to have commercial tractor-trailer insurance coverage, even for leased units.
Your options for commercial trucks depend on the needs of your trucking business, the truck driver, and the type of goods you haul.
Commercial Trucking Insurance Coverage
The liability insurance portion of a trucking insurance policy helps pay for third-party injuries and property damage caused by the truck driver. With a commercial liability insurance policy, there are two types of liability coverage:
- Bodily injury liability insurance helps cover medical bills if other people involved in the accident are injured and the tractor-trailer driver is at fault.
- Property damage liability insurance helps pay to repair or replace someone else’s property after an accident caused by a commercial truck driver.
An independent insurance agent can help you determine which types and amounts of insurance may best serve your trucking business. They can help you choose from several commercial truck insurance providers.
Your agent may also recommend additional commercial truck policies to help protect your business. Other coverages under commercial auto insurance include:
- Comprehensive insurance: This coverage may help pay for damages to the tractor trailer unrelated to an accident, such as weather damage, fire or vandalism.
- Collision insurance: This policy may help repair or replace the tractor trailer after an accident.
- Medical payments: This coverage may help cover medical bills up to a specific dollar limit if a passenger or the tractor trailer driver is injured in an accident. It could also cover lost income.
- Uninsured/underinsured motorist insurance: This policy may help pay to repair or replace a tractor trailer after an accident caused by an uninsured or underinsured third party.
Types of Insurance for Tractor Trailer
Your agent may recommend the following additional tractor trailer insurance, depending on your situation:
- Trailer interchange: This policy helps pay to repair or replace a trailer when someone other than the owner uses it.
- Bobtail: This policy helps cover damages caused when the truck does not have a trailer attached
- Cargo insurance: This policy helps cover financial loss incurred from damaged or lost cargo.
Get the Trucking Insurance You Need Today
At Exceed Insurance, we understand that tractor trailer owners and drivers have specific insurance needs. Contact us today to learn more about the commercial and owner operator truck insurance your organization needs. We will offer you a personalized quote as per your requirements.
Regions We Serve
Exceed Insurance is a leading trucking insurance provider across all states in the US. We offer the best protection covers for truckers nationwide. We are a go-to choice for trucker’s insurance, no matter where they are in the United States.
We provide the best trucking insurance services in the following states across the US.
- New York
- New Jersey
- North Carolina
- South Carolina
- New Mexico
Exceed’s trucking insurance is available for everyone, no matter where you are in the United States.
What does Owner operator truck insurance cover?
- Owner operator truck insurance typically covers truck, trailer, cargo and provides liability coverage for the owner operator. It ensures financial protection in case of accidents, injuries, or damage.
Is trucking business insurance different from commercial auto insurance?
- Yes, our trucking insurance is specifically tailored to the unique needs of the trucking business.
What is tractor trailer insurance and why do I need it?
- Tractor trailer insurance is a coverage that protects owners and operators of tractor trailers. It is essential to mitigate risks associated with accidents, cargo damage, and liability on the road.
Can I customize my trucking insurance policy?
- Yes, we also offer customizable insurance policies. You can book a free consultation session with our experts. We will tailor your grocery store insurance coverage based on your specific needs and risks.